根据半年报，新疆新鑫矿业旗下全资拥有喀拉通克、黄山东、黄山和香山四座镍铜矿，拥有湘河街和穆 家河两座钒矿，还有卡尔恰尔萤石矿。此外，新疆新鑫矿业近期表示，2025年下半年，集团正在加大生 产力度，争取2025年年内完成2025年全年产能计划，计划生产电解镍12,000吨，计划生产阴极铜9,900 吨。但新疆新鑫矿业也强调可能根据情况变化调整有关生产计划。 消息面上，新疆新鑫矿业此前发布称，为推动公司持续稳定发展，促进收入及股东回报可持续增长，董 事会审议批准开展发行A股并在中国一家证券交易所上市的相关工作。公司将委任申万宏源证券承销保 荐有限责任公司作为建议发行A股的上市前辅导机构。 智通财经APP获悉，新疆新鑫矿业(03833)再涨超10%，年内累涨超300%。截至发稿，涨8.96%，报3.04 港元，成交额3249.81万港元。 ...

Core Viewpoint - The trend of A-share companies planning to list in Hong Kong continues, with a significant number of firms seeking to expand their financing channels and enhance their international presence [1][4][8]. Group 1: A-Share Companies Planning to List in Hong Kong - As of September 30, three A-share companies, XinNuoWei, Kexing Pharmaceutical, and KOTAI Power, announced plans to list in Hong Kong, bringing the total to 25 companies that have made such announcements in September alone [1][3]. - A total of 76 A-share companies have submitted listing applications to the Hong Kong Stock Exchange and are awaiting hearings as of October 2 [1][6]. Group 2: Industry Distribution and Notable Companies - The companies planning to list cover various industries, including pharmaceuticals, technology, and consumer goods, indicating a broad interest across sectors [6]. - Notable companies among those planning to list include Kexing Pharmaceutical, which aims to enhance its international strategy and financing capabilities, and XinNuoWei, which focuses on global expansion and capital operations [4][5]. Group 3: Financing and Market Trends - The "A+H" listing model has seen significant fundraising success, with 11 A-share companies raising a total of 916.89 billion HKD this year, accounting for over 50% of the total IPO financing in Hong Kong [8]. - The Hong Kong Stock Exchange has experienced a surge in new stock issuance, with total financing reaching 1,345 billion HKD by the end of August, marking a nearly sixfold increase compared to the same period in 2024 [8].

Core Viewpoint - Wufangzhai (603237.SH), a listed company in A-share market, plans to issue shares overseas (H-shares) and list on the Hong Kong Stock Exchange, with the board authorizing management to initiate preparatory work for this H-share listing [1] Company Overview - Founded in 1921, Wufangzhai specializes in the research, production, and sales of glutinous rice-based food products, recognized as one of the first "Chinese Time-honored Brands" and has been awarded "Top 100 Chinese Catering Enterprises" [1] - The company adheres to a "food + catering" collaborative development strategy, aiming to become a leading brand in traditional Chinese seasonal foods [1] Operational Footprint - Wufangzhai operates two major production bases located in Jiaxing and Chengdu, and has established a comprehensive marketing network that includes nationwide trade, chain stores, and e-commerce [1] - As of June 30, 2025, the company plans to have established 496 stores [1]

Core Viewpoint - Xinjiang Xinxin Mining (03833) is taking steps to enhance its sustainable development and shareholder returns by planning to issue A-shares and list on a Chinese stock exchange by September 25, 2025 [1] Group 1: Company Developments - Xinjiang Xinxin Mining's stock opened over 8% higher, currently trading at 2 HKD with a transaction volume of 1.176 million HKD [1] - The company has appointed Shenwan Hongyuan Securities as the pre-listing advisory institution for the A-share issuance [1] - The company announced plans to acquire a 51% stake in Xinjiang Huao Mining for approximately 1.098 billion RMB, which will result in the target company becoming a non-wholly-owned subsidiary [1] Group 2: Industry Context - The production ceremony for the 1.2 million tons per year fluorite mining project by Xinjiang Nonferrous Group Huao Mining was held on September 20 [1]

Group 1 - As of September 25, 2023, 65 new stocks have been listed in Hong Kong this year, raising approximately 156.03 billion HKD, a year-on-year increase of 179.86% [1] - Deloitte China predicts that by the first three quarters of 2025, the IPO financing scale in Hong Kong will reach 182.3 billion HKD, surpassing the New York Stock Exchange's 125.6 billion HKD [1] - More than 80 new stocks are expected to be listed in Hong Kong in 2025, with total financing reaching between 250 billion HKD and 280 billion HKD [1] Group 2 - 11 A-share companies have listed in Hong Kong this year, raising approximately 91.69 billion HKD, accounting for 60% of the total fundraising [2] - All 11 A-share companies had cornerstone investors, indicating high recognition from cornerstone investors for A-share companies listing in Hong Kong [2] - Over 100 A-share companies are currently planning to list in Hong Kong, with several already submitting IPO applications [2] Group 3 - The trend of "A first, then H" listings is expected to continue driving the Hong Kong IPO market, with about one-third of the 200 pending applications being A-share companies [3] - There are currently 161 companies listed as "A+H," with two companies' H-share prices exceeding their A-share prices [3] - The Hong Kong Stock Exchange has lowered the initial public holding requirement from 15% to 10%, enhancing its appeal to quality A-share companies [3] Group 4 - Companies from various sectors, including consumer and robotics, are increasingly listing in Hong Kong, with significant market interest in brands like Mixue Ice City and Zhejiang Guming Technology [4] - Investors are focusing on companies with clear growth logic, high brand recognition, and excellent customer experience [4] - The Hong Kong market allows for diverse operations such as market value management and convertible bond issuance [4] Group 5 - The Hong Kong Stock Exchange launched a "Tech Company" channel to enhance market attractiveness, allowing tech firms to submit applications confidentially [5] - As of September 25, 2023, 55 Hong Kong companies have introduced cornerstone investors, attracting approximately 310 investors [5] - About 70% of newly listed stocks did not experience a drop on their first trading day, with 30 stocks seeing price increases of over 10% [5] Group 6 - With the Federal Reserve starting to lower interest rates, more funds are expected to flow into the Hong Kong stock market, maintaining its position as the top global IPO financing market [6] - Southbound funds have injected significant liquidity into the Hong Kong market, with a net inflow of approximately 1.14 trillion HKD this year [6] - Global funds are increasingly seeking high-potential, high-growth companies in Asia, benefiting the issuance of new stocks in Hong Kong [6]

Core Viewpoint - Wancheng Biotechnology Group Co., Ltd. is preparing to list on the Hong Kong Stock Exchange, aiming to establish an "A+H" listing structure after its previous listing on the Shenzhen Stock Exchange in April 2021 [2] Group 1: Company Overview - Wancheng Biotechnology was founded in 2011 and went public on the Shenzhen Stock Exchange in April 2021, focusing on the research, cultivation, and sales of edible fungi [7] - As of June 30, 2025, Wancheng Biotechnology has a network of 15,365 stores, primarily franchise stores, covering 29 provinces, municipalities, and autonomous regions in China [7] - The company reported a revenue of 22.58 billion RMB and a profit of 860.5 million RMB for the first half of 2025, compared to 10.92 billion RMB in revenue and 136.2 million RMB in profit in the same period of the previous year [11] Group 2: Recent Transactions - Wancheng Biotechnology announced an investment of 1.38 billion RMB to acquire a 49% stake in Nanjing Wanyou Commercial Management Co., Ltd., which operates in the bulk snack industry [3][4] - The acquisition is part of a strategy to strengthen the company's core team and ensure performance commitments from the transaction counterparties [5] Group 3: Financial Performance - The company achieved a revenue of 5.49 billion RMB in 2022, 9.29 billion RMB in 2023, and projected 32.33 billion RMB in 2024, with profits of 67.85 million RMB, -176.21 million RMB, and 610.91 million RMB respectively [9][10] - For the first half of 2025, the adjusted net profit was 922 million RMB, up from 238 million RMB in the same period of the previous year [12] Group 4: Management Changes - In July 2025, the former chairman Wang Jiankun was investigated, leading to Wang Lijing being appointed as the new chairman and Wang Zenning as the new general manager [18][19] - Wang Lijing has been with the company since 2011 and has held various leadership roles, while Wang Zenning joined in 2015 and has been promoted through the ranks [19]

对于此次计划港股上市，海澜之家在公告中表示，主要目的是深化公司全球化战略布局，加快海外业务 发展，同时提升公司国际化品牌形象，打造多元化资本运作平台。公司希望通过H股上市进一步增强公 司资本实力，助力公司高质量发展。 随着蜜雪冰城、泡泡玛特、老铺黄金等消费类企业都在港股市场备受追捧，让赴港上市持续升温。 伴随着港股市场的持续火热，A股上市企业也纷纷开启了港股二次上市的进程。 海澜之家公告称，该公司拟在境外发行股份（H股）并在香港联合交易所有限公司上市。 据Wind资讯数据统计，截至9月11日，年内已有11家A股公司在港股二次上市。目前，"A+H"双上市的 公司达161家，还有超过50家A股企业在排队。仅在9月，便有海澜之家、罗博特科、利欧股份等公司公 告筹划发行H股股票并在香港联交所上市。 市场对港股的追捧，既是一次资本的狂欢，更是一次企业走向更加广阔市场的机会。对于海澜之家来 说，A+H股两地上市的策略，或许成为了其国际化布局的重要一环。 另一方面，香港市场也在持续优化服务效率，降低企业上市门槛。2024年10月，香港证监会与联交所联 合发布新上市申请审批流程时间表；港交所还降低了A股公司发行H股的门槛，对 ...

Core Viewpoint - The article discusses the recent regulatory changes in China and Hong Kong that facilitate A-share listed companies to issue H-shares and list on the Hong Kong Stock Exchange, highlighting the increasing trend of A-share companies considering or preparing for Hong Kong listings due to supportive policies and the need for diversified financing channels [2][33]. Group 1: Listing Process for A-share Companies - The process for A-share companies to issue H-shares and list on the Hong Kong Stock Exchange involves several key stages, including preparation, due diligence, dual regulatory approval, and the final issuance and listing [3][4][5][8]. - The preparation phase requires the selection of intermediary institutions and the establishment of a timeline that aligns with A-share announcement timings [3]. - The due diligence phase includes comprehensive investigations into business, financial, and legal aspects, along with the preparation of necessary documentation [4]. - The dual approval phase involves submitting applications to both the Hong Kong Stock Exchange and the China Securities Regulatory Commission (CSRC), with expedited processes for qualified A-share companies [5]. - The final issuance phase includes obtaining approval from the CSRC and conducting roadshows to finalize the offering details [8]. Group 2: Information Disclosure During H-share Issuance - A-share companies must manage insider information and prevent insider trading during the H-share issuance process, ensuring proper disclosure at critical stages [9]. - The article provides a timeline of key disclosure events for companies like CATL during their H-share listing process, emphasizing the importance of board and shareholder meetings for approvals [9]. Group 3: Legal Issues in A+H Structure - The article outlines core legal issues related to the A+H structure, including valuation discrepancies between A-shares and H-shares, which often result in H-shares being priced at a discount compared to A-shares [12][13]. - The premium rate of A-shares over H-shares is highlighted, with a noted decline from 84.22% to 64.67% in 2025, indicating market dynamics and investor sentiment [14]. - Public holding requirements for A+H companies have been relaxed, allowing companies with a market value over HKD 30 billion to meet either a 10% public holding or a HKD 30 billion market cap requirement [15]. Group 4: Compliance and Regulatory Feedback - The article discusses common feedback from the CSRC regarding compliance issues, including operational legality, corporate governance, and foreign investment regulations, which affect the approval process for H-share listings [24][26][27][28]. - A significant number of companies have faced inquiries about their compliance with operational licenses and governance structures, indicating the importance of thorough preparation before applying for H-share listings [26][27]. Group 5: Challenges and Market Dynamics - The article notes that while there is a growing trend of A-share companies pursuing H-share listings, they face challenges due to differing investor expectations and regulatory environments in Hong Kong compared to mainland China [33]. - Companies must adapt to the more cautious nature of Hong Kong institutional investors and the complexities of complying with dual regulatory frameworks, which can increase operational costs [33].

Core Viewpoint - EVE Energy Co., Ltd. is making progress in its application for a listing on the Hong Kong Stock Exchange, following a request from the China Securities Regulatory Commission for additional materials related to the company's history, stock pledges, and shareholder information [1][2]. Group 1: Listing Progress - EVE Energy submitted its prospectus to the Hong Kong Stock Exchange on June 30, aiming for a main board listing, with CITIC Securities as the sponsor [2]. - If successful, EVE Energy will become the second lithium battery company to achieve A+H share listings, following CATL [2]. Group 2: Regulatory Requirements - The China Securities Regulatory Commission has requested EVE Energy to provide supplementary materials covering six specific areas, including the company's historical evolution and compliance of past equity changes [1]. - The company must clarify the impact of stock pledges on the status of controlling shareholders and actual controllers, including the reasons for stock pledges and the debt repayment capabilities of relevant parties [1]. - EVE Energy is required to disclose the basic information of existing shareholders and their relationships, as well as the operational scope of its subsidiaries and branches in relation to foreign investment restrictions [1]. - A comparative analysis of the company's shareholding structure before and after the issuance, including the effects of over-allotment options, must be provided [1]. - The company must confirm whether it is subject to any prohibitive conditions as outlined in the relevant regulatory guidelines for overseas securities issuance and listing [1].

Core Viewpoint - Company Fuhang Micro (300613.SZ) plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange to enhance its global strategy and capital strength [1] Group 1: Company Overview - Fuhang Micro is a leading chip design company focused on the visual field, providing high-performance video codec IPC and NVR SoC chips, image signal processor ISP chips, smart display chips, and automotive video transmission chips [1] - The company's products are widely used in professional video processing, smart IoT, and smart transportation, covering global industry-leading brand terminal products [1] Group 2: Financial Information - As of August 28, 2025, Fuhang Micro's total market capitalization is approximately 13.093 billion RMB [1]